FSL Trust’s Aframax to Work for Teekay

Singapore-based First Ship Lease Trust (FSL Trust) has reached an agreement to employ its vessel Aframax crude oil tanker FSL Hong Kong in the Teekay Group Revenue Sharing Agreement post dry docking.

The 115,000 dwt tanker was previously employed on a two-year time charter with refiner and marketer of petroleum products Tesoro since June 2015.

Built by South Korean shipyard Samsung Heavy Industries in 2007, the 61,342 gross ton tanker features a length of 250 meters and a width of 44 meters. Its current market value stands at USD 18.6 million, data provided by VesselsValue shows.

“We are very pleased to announce the employment of FSL Hong Kong in the Teekay RSA, strengthening the Trust’s valued relationship with this market leader in the Aframax segment,” Roger Woods, Acting Chief Executive Officer of FSL Trust Management, said.

FSL Trust’s second crude oil tanker FSL Shanghai is employed with global commodities trader Trafigura on a two-year time charter with options to extend the agreement for a further 12 months. The vessel commenced its time charter in August 2015.